Consumer Survey 2022: Fraud, identity and digital banking in Thailand

What do customers in Thailand think about how financial services organizations manage fraud and identity verification?

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You want to attract and onboard new customers and provide legitimate customers with experiences that delight, but at the same time, you must also protect your organization, customers, and victims of identity theft from fraud. This e book provides insight from 1,000 Thai consumers who we surveyed to find out what they think about how you protect them. 

  • 56% will abandon opening a personal bank account if identity checks are too difficult or time-consuming.
  • Passwords are the top choice for account security, but up to 59% have a strong preference to use biometrics.
  • Ease of use is the number one consideration for selecting a new account, but 62% have good fraud protection as a top three consideration.
  • 37% say their stolen identity has been used to open a financial account. That could equate to 20 million people.
  • The risk of first-party fraud is high - about half of people say that exaggerating income on applications is OK in some circumstances, or normal behavior.
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